I did the degree part time whilst working full time and once I was done I started the interview process for a position at Google. I was told that they don't usually hire anyone unless they have a bachelor of computer science, but that they'd make an exception seeing as I've been working (effectively had 4 years experience at that time). I ended up getting a non-grad job elsewhere even before my second phone interview, but it seems to me that if they only hire BSc students, the university system is not setup to suit them.
I've never met anyone from Queensland (my home state) that has done a BSc, its either called Bachelor of IT or Software Engineering. That doesn't mean they aren't capable of being great employees for Google.